Here are the essential concepts you must grasp in order to answer the question correctly.
Confidence Interval
A confidence interval is a range of values, derived from sample statistics, that is likely to contain the population parameter with a specified level of confidence. For example, a 90% confidence interval suggests that if we were to take many samples and construct intervals in the same way, approximately 90% of those intervals would contain the true population parameter.
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Chi-Squared Distribution
The Chi-squared distribution is a statistical distribution that is used to estimate the variance of a population based on sample data. It is particularly relevant when constructing confidence intervals for population variance and standard deviation, as it accounts for the degrees of freedom, which is determined by the sample size minus one.
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Sample Variance and Standard Deviation
Sample variance (s²) measures the spread of sample data points around the sample mean, while the standard deviation (s) is the square root of the variance, providing a measure of dispersion in the same units as the data. These statistics are crucial for estimating the population variance and standard deviation, especially when the population is assumed to be normally distributed.
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